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For the last couple of years, Adobe has been focused on shifting its business model so that customers pay monthly for products like Photoshop and Illustrator.

Now it's the products themselves that need to shift to adjust to a world of artificial intelligence and virtual reality.

"This is not a market that is very forgiving of companies that don't continually ask what is around the corner," CTO Abhay Parasnis told Axios.

Here's what Parasnis says is in Adobe's future:

  • making tasks like photo and video editing as simple as dictating what you want done
  • tapping machine intelligence to make better sense of vast image libraries
  • creating programs that bring professional illustration into three dimensions for virtual reality

But the real fun was the show-and-tell.

From his pocket, Parasnis pulled out an iPhone 7. What initially looked like a standard camera app turned out to be a proof-of-concept from Adobe Labs that uses neural algorithms to apply different artistic styles to photos. It's similar to popular apps like Pixma, but with enough real-time abilities that you can see what the result will look like before even taking the picture.

Later, I donned an HTC Vive headset to see the latest incarnation of Project Dali, Adobe's first crack at a professional-level app to paint in three dimensions. Check out the video. It's really something to be able to look over, under and around your brush strokes.

Another virtual reality project imagines what it would look like to navigate through PDF documents in a virtual world. while a final app lets me "sculpt" some virtual clay using just my fingers and a stylus on top of a Microsoft Surface Studio touchscreen PC. I only made a blob, but Adobe research engineer Sebastian Marketsmueller showed off a pretty cool dinosaur.

Adobe

Go deeper

GOP Sen. Chuck Grassley announces run for re-election

Photo: Greg Nash/The Hill/Bloomberg via Getty Images

Sen. Chuck Grassley (R-Iowa), the longest-serving Senate Republican, announced on Friday that he's running for re-election in 2022.

Why it matters: The GOP is looking to regain control of both chambers of Congress in the upcoming midterm elections. Several Republicans had urged the 88-year-old senator to run to avoid another retirement after five incumbent senators said they wouldn't seek re-election.

China deems all cryptocurrency transactions illegal

A person walking past China's central bank in Beijing in August 2007. Photo: Teh Eng Koon/AFP via Getty Images

China's central bank declared on Friday that all cryptocurrencies are illegal, banning crypto-related transactions and cryptocurrency mining, according to Reuters.

Why it matters: China's government is now following through with its goal of cracking down on unofficial virtual currencies, which it has said are a financial, social and national security risk and a contributor to global warming.

Biden's big bet backfires

Two key dealmakers — Sen. Joe Manchin (D-W.Va.) and Sen. Mark Warner (D-Va.) — leave a luncheon in the Capitol yesterday. Photo: Kent Nishimura/L.A. Times via Getty Images

President Biden bit off too much, too fast in trying to ram through what would be the largest social expansion in American history, top Democrats privately say.

Why it matters: At the time Biden proposed it, he had his mind set on a transformational accomplishment that would put him in the pantheon of FDR and JFK.